Ascent Group LLC Sells 4,150 Shares of Alphabet Inc. $GOOGL

Ascent Group LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 153,792 shares of the information services provider's stock after selling 4,150 shares during the quarter. Alphabet makes up 1.6% of Ascent Group LLC's holdings, making the stock its 8th largest position. Ascent Group LLC's holdings in Alphabet were worth $54,961,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Old Peak Finance LLC increased its position in Alphabet by 46.9% during the 2nd quarter. Old Peak Finance LLC now owns 2,442 shares of the information services provider's stock worth $873,000 after buying an additional 780 shares during the period. Willis Investment Counsel lifted its holdings in shares of Alphabet by 22.4% during the second quarter. Willis Investment Counsel now owns 49,797 shares of the information services provider's stock worth $17,796,000 after buying an additional 9,120 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new stake in shares of Alphabet in the second quarter valued at about $228,000. Everstar Asset Management LLC boosted its position in shares of Alphabet by 9.4% in the second quarter. Everstar Asset Management LLC now owns 1,530 shares of the information services provider's stock valued at $547,000 after acquiring an additional 131 shares during the period. Finally, One Day In July LLC grew its stake in shares of Alphabet by 24.2% in the second quarter. One Day In July LLC now owns 9,160 shares of the information services provider's stock valued at $3,274,000 after acquiring an additional 1,787 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.2%

GOOGL opened at $344.82 on Friday. The company has a market cap of $4.22 trillion, a P/E ratio of 17.32, a PEG ratio of 0.97 and a beta of 1.24. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $352.00 and its 200-day moving average is $341.37. Alphabet Inc. has a 1-year low of $201.30 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $6.22. The business had revenue of $119.80 billion during the quarter, compared to analysts' expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Equities research analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be given a $0.22 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Insider Transactions at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $19.46, for a total transaction of $3,832,277.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 8,998 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $349.29, for a total value of $3,142,911.42. Following the transaction, the insider owned 75,290 shares of the company's stock, valued at $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 451,945 shares of company stock valued at $12,382,714 over the last three months. Company insiders own 11.61% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt upgraded Alphabet to “strong buy” and reiterated a $410 price target, implying substantial upside and reinforcing the bullish view following Alphabet’s strong earnings report. Alphabet upgraded by Rosenblatt Securities
• Positive Sentiment: Alphabet’s AI spending continues to attract major customers and suppliers. Marvell’s custom-chip agreement includes a warrant structure that would require up to $120 billion of cumulative purchases from Google for full vesting, signaling the potentially enormous scale of Alphabet’s TPU and AI infrastructure buildout. Google’s Marvell warrant
• Positive Sentiment: Waymo received approval to operate up to thousands of commercial robotaxis in Nevada and opened its lower-cost next-generation vehicle to riders in Los Angeles, Phoenix, and San Francisco. Lower production and operating costs could improve the long-term economics of Alphabet’s autonomous-driving unit. Waymo Nevada robotaxi approval
• Positive Sentiment: Alphabet’s earnings momentum remains a support for the stock. The company recently exceeded consensus estimates for both adjusted earnings and revenue, while analysts and prominent investors—including Berkshire Hathaway—continue to highlight Alphabet’s AI positioning and valuation.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOOGL shares. Truist Financial set a $420.00 price target on shares of Alphabet and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Phillip Securities raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. BMO Capital Markets set a $465.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Finally, Evercore lifted their price target on shares of Alphabet from $400.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Six analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Alphabet has a consensus rating of "Buy" and an average price target of $420.19.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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